Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Eagle Asset Management Inc.

Eagle Asset Management Inc. lowered its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 0.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 180,123 shares of the manufacturing equipment provider’s stock after selling 490 shares during the quarter. Eagle Asset Management Inc.’s holdings in Applied Materials were worth $7,440,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. MCF Advisors LLC raised its position in shares of Applied Materials by 0.3% during the 1st quarter. MCF Advisors LLC now owns 3,663 shares of the manufacturing equipment provider’s stock worth $142,000 after purchasing an additional 10 shares during the period. Guardian Life Insurance Co. of America raised its position in shares of Applied Materials by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 4,170 shares of the manufacturing equipment provider’s stock worth $162,000 after purchasing an additional 29 shares during the period. Adirondack Trust Co. raised its position in shares of Applied Materials by 1.1% during the 2nd quarter. Adirondack Trust Co. now owns 3,650 shares of the manufacturing equipment provider’s stock worth $151,000 after purchasing an additional 40 shares during the period. RMB Capital Management LLC raised its position in shares of Applied Materials by 1.0% during the 1st quarter. RMB Capital Management LLC now owns 6,280 shares of the manufacturing equipment provider’s stock worth $244,000 after purchasing an additional 60 shares during the period. Finally, Honkamp Krueger Financial Services Inc. raised its position in shares of Applied Materials by 0.5% during the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 20,921 shares of the manufacturing equipment provider’s stock worth $864,000 after purchasing an additional 97 shares during the period. Institutional investors and hedge funds own 79.67% of the company’s stock.

A number of analysts have recently weighed in on AMAT shares. Stifel Nicolaus increased their price target on Applied Materials from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Sunday, May 21st. Needham & Company LLC increased their price target on Applied Materials from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Sunday, May 21st. B. Riley reiterated a “buy” rating and set a $56.00 price target on shares of Applied Materials in a research report on Saturday, May 20th. Credit Suisse Group upgraded Applied Materials to a “buy” rating and set a $54.00 price target on the stock in a research report on Friday, May 19th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $48.00 price target (up from $45.00) on shares of Applied Materials in a research report on Friday, May 19th. Four investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $51.55.

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In other news, Director Alexander Karsner sold 22,762 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total value of $1,002,210.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is owned by insiders.

Shares of Applied Materials, Inc. (NASDAQ AMAT) opened at 47.125 on Friday. The stock’s 50 day moving average price is $44.27 and its 200 day moving average price is $42.49. Applied Materials, Inc. has a 1-year low of $27.56 and a 1-year high of $47.86. The company has a market capitalization of $50.26 billion, a price-to-earnings ratio of 16.753 and a beta of 1.81.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. Applied Materials had a net margin of 22.08% and a return on equity of 40.74%. The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the business earned $0.50 EPS. The business’s quarterly revenue was up 32.7% compared to the same quarter last year. Analysts expect that Applied Materials, Inc. will post $3.20 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, November 24th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Wednesday, November 22nd. Applied Materials’s dividend payout ratio (DPR) is 14.18%.

Applied Materials Profile

Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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